Pneumatic Tires

Global Pneumatic Tires Market to Reach US$416.3 Billion by 2030

The global market for Pneumatic Tires estimated at US$357.8 Billion in the year 2024, is expected to reach US$416.3 Billion by 2030, growing at a CAGR of 2.6% over the analysis period 2024-2030. Radial, one of the segments analyzed in the report, is expected to record a 2.0% CAGR and reach US$282.3 Billion by the end of the analysis period. Growth in the Cross-ply segment is estimated at 3.9% CAGR over the analysis period.

The U.S. Market is Estimated at US$97.5 Billion While China is Forecast to Grow at 4.8% CAGR

The Pneumatic Tires market in the U.S. is estimated at US$97.5 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$79.6 Billion by the year 2030 trailing a CAGR of 4.8% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.0% and 1.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.4% CAGR.

Global Pneumatic Tire Market – Key Trends & Drivers Summarized

Why Are Pneumatic Tires Essential in Modern Transportation?

Pneumatic tires play a crucial role in modern transportation, offering superior traction, shock absorption, and durability across various vehicle types. These tires, filled with air or nitrogen, provide flexibility and cushioning that enhances vehicle performance and ride comfort. Unlike solid rubber tires, pneumatic tires reduce vibrations and distribute load evenly, making them ideal for automobiles, commercial trucks, motorcycles, bicycles, and industrial machinery.

The increasing demand for efficient and high-performance tires is driving advancements in pneumatic tire technology. Innovations such as tubeless radial tires, run-flat tires, and self-sealing tires have improved safety, fuel efficiency, and overall vehicle handling. Additionally, eco-friendly and fuel-efficient tire designs have gained prominence, catering to stringent environmental regulations and consumer preferences for sustainable mobility solutions. As automotive and industrial sectors continue to expand, the pneumatic tire market remains a critical component of global transportation infrastructure.

How Are Technological Innovations Reshaping the Pneumatic Tire Industry?

The pneumatic tire industry is witnessing rapid technological advancements aimed at improving safety, performance, and sustainability. One of the most notable innovations is the development of smart tires, which integrate sensors to monitor pressure, temperature, and tread wear in real time. These intelligent tire systems enhance safety by preventing blowouts and optimizing fuel efficiency, making them particularly valuable for fleet management and commercial vehicles.

Another major breakthrough is the rise of airless pneumatic tires, which use a unique structure to eliminate the risk of punctures while maintaining the shock-absorbing properties of traditional tires. Companies like Michelin and Bridgestone are pioneering airless tire prototypes designed for passenger vehicles, military applications, and off-road machinery. These advancements are expected to reduce maintenance costs and improve vehicle uptime in critical sectors such as logistics, agriculture, and construction.

In addition, the adoption of sustainable materials and advanced manufacturing processes is transforming the industry. Leading tire manufacturers are exploring bio-based rubber alternatives, recycled tire components, and low rolling resistance designs to enhance fuel efficiency and reduce carbon emissions. The integration of 3D printing and AI-driven tire modeling has also accelerated the development of next-generation pneumatic tires, enabling manufacturers to create customized tread patterns and optimize material usage for enhanced durability.

Why Is Demand for Pneumatic Tires Growing Across Various Sectors?

The increasing demand for pneumatic tires is fueled by the rapid growth of the automotive industry, the expansion of commercial transportation, and the rising adoption of electric vehicles (EVs). As global vehicle production and sales continue to rise, particularly in emerging economies, the need for high-performance and fuel-efficient tires has intensified. The passenger vehicle segment remains the largest consumer of pneumatic tires, with a strong emphasis on long-lasting, all-season, and performance-oriented tire models.

The commercial vehicle sector is another major driver of the pneumatic tire market. Trucks, buses, and heavy-duty transport vehicles require durable, load-bearing tires that can withstand extended usage and harsh road conditions. The increasing adoption of fleet management solutions and the rise of e-commerce logistics have further propelled demand for advanced tire technologies that enhance mileage and reduce downtime. Additionally, the expansion of agriculture, construction, and mining industries has boosted demand for off-road pneumatic tires that offer superior traction, stability, and resistance to extreme conditions.

The rapid growth of electric and hybrid vehicles (EVs) is also influencing tire design and material composition. EVs require specialized low-rolling-resistance tires to maximize battery efficiency while maintaining high-performance grip and durability. Leading tire manufacturers are investing in EV-specific tire technologies, such as noise-reduction designs and reinforced sidewalls, to cater to the growing shift toward sustainable mobility. As governments worldwide promote EV adoption through subsidies and regulatory mandates, the demand for optimized pneumatic tires tailored for electric vehicles is expected to surge.

What Factors Are Driving the Growth of the Pneumatic Tire Market?

The growth in the pneumatic tire market is driven by several factors, including rising vehicle production, technological advancements, and increasing demand for sustainable mobility solutions. One of the primary drivers is the expanding global automotive industry, particularly in regions like Asia-Pacific, North America, and Europe, where vehicle ownership rates are rising, and infrastructure development is accelerating. The demand for high-performance, all-terrain, and eco-friendly tires is pushing manufacturers to develop innovative solutions that align with evolving consumer and regulatory requirements.

Another key factor is the rise in fleet management and commercial transportation, particularly in logistics, e-commerce, and public transit. The need for cost-effective, fuel-efficient, and long-lasting tires has led to a surge in demand for advanced pneumatic tires that offer enhanced durability and lower maintenance costs. The growth of ride-sharing and autonomous vehicle fleets is also contributing to increased tire replacement cycles, further driving market expansion.

Environmental concerns and government regulations on fuel efficiency and carbon emissions have also played a pivotal role in shaping the pneumatic tire market. Regulations such as the EU’s tire labeling system and U.S. fuel economy standards are pushing manufacturers to develop low-rolling-resistance tires that reduce fuel consumption and greenhouse gas emissions. As sustainability becomes a central focus, tire manufacturers are investing in bio-based materials, renewable rubber sources, and recycling initiatives to align with global environmental goals.

The rapid integration of smart tire technology and AI-powered predictive maintenance is also propelling market growth. Fleet operators and individual consumers are increasingly relying on real-time tire monitoring systems to enhance safety, optimize performance, and reduce overall operational costs. The rise of connected vehicles and IoT-based mobility solutions is expected to further drive demand for intelligent pneumatic tires that offer predictive analytics and remote diagnostics.

With continuous advancements in tire design, manufacturing techniques, and material science, the pneumatic tire market is poised for substantial growth, offering innovative solutions for the evolving needs of the global transportation industry. As urbanization, electric vehicle adoption, and smart mobility trends continue to expand, pneumatic tires will remain a fundamental component of the future of mobility.

SCOPE OF STUDY:

The report analyzes the Pneumatic Tires market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Product (Radial, Cross-ply); Vehicle (Two-wheelers, Four-wheelers, Aircrafts, Others); Distribution Channel (OEM, Aftermarket)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 33 Featured) -

• Apollo Tyres Ltd
• Bridgestone Corporation
• CEAT Limited
• Continental AG
• Cooper Tire & Rubber Company
• Double Coin Holdings Ltd.
• Goodyear Tire & Rubber Company
• Hankook Tire & Technology Group
• JK Tyre & Industries Ltd
• Kumho Tire Co., Inc.
• Maxxis International
• Michelin Group
• Nokian Tyres plc
• Pirelli & C. S.p.A.
• Sailun Group Co., Ltd.
• Sumitomo Rubber Industries, Ltd.
• Toyo Tire Corporation
• Triangle Tire Co., Ltd.
• Yokohama Rubber Company, Limited
• Zhongce Rubber Group Co., Ltd.

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

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APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

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INDIA
176 OTHER COUNTRIES.

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